In March 2016, Digix completed their first ever crowd sale on the Ethereum Blockchain, and it was a huge success. It actually surpassed the target that had been set, reaching 5.5 million USD within just 12 hours. History was indeed made and that is when digixDAO, Ethereum’s first major distributed autonomous organization was born.
The big question is: what is the reason behind digixDAO and why should you purchase Digix tokens? In this article, we are going to answer these two questions to help you learn more about digixDAO.
The Reason Behind Digix Global DigixDAO’s Success
Experts will tell you that it is actually impossible to predict the outcome of Ethereum crowd sales, especially if you are doing it for the first time. There are various things that made digixDAO successful on its first ever Ethereum crowd sale. The number one reason is that everybody knows that the future of Ethereum is actually bright. They are well aware that Ethereum reflects the future and will change the digital platform for the better.
It is the next generation of blockchain technology and allows smart contracts to be deployed easily. Digix clearly understood the implications of this new technology and took advantage of it to be among the first to harness the huge potential that it manifested, and it turned out to be a huge success. Currently, Digix has created two types of Ethernet token, each with their own unique features problems. The uniqueness that both tokens have complements each other to ensure joint success.
In order to achieve its vision, Ethereum actually needed to have a unit of exchange and that is exactly where Digix gold tokens (DGX) comes in. Digix gold token actually represents the value on the blockchain that can be easily retained with relatively little volatility, giving it greater utility when compared to ether.
In fact, you can use DGX to pay for your coffee using NCF tap. This is because DGX is in the Ethereum EIP20 format, meaning that it can actually be used in future Ethereum contracts for almost anything. In addition to that, DGX can also be used for other financial instruments and tokens that are yet to be discovered.
About 5.5 million USD was raised during the 12 hour crowd sale. This value will actually be used for investment in peripherals that increase DGX adoption as approved by DGD holders.
Some of the benefits of DGX include:
DGX holders are going to reap big from DGX. They are going to claim rewards on transaction fees of DXG, which is currently at 0.13% of the balance sent.
Those who sent over 15,000 USD during the crowd sale are set to receive the biggest rewards. They will receive a special proposer badge witch will allow them to submit their proposal directly to digixDAO.
Once the proposal has been approved by other badge holders, voting will start and it will be open to all DGX holders. They can accept or reject your proposal on a secret chain ballot.
Digix Global DigixDAO Final Words
There is no doubt that the future of Ethereum is bright, and that has been manifested clearly by the success of digixDAO. The democracy inherent in the system as it is currently built is something that cryptocurrency miners and investors value greatly. Currently, the governance model of digixDAO is undergoing planning, development, and auditing. However, there is no doubt that it will be a huge success once the model is complete. Don’t be left out, join the community model and be part of the success.